Sberbank and the owner of the Russian network of clothing, footwear and home goods stores Stockmann, Yakov Panchenko, signed an agreement to purchase a 100% stake in the retail chain. This is stated in the message of Sberbank, which was received by Izvestia on Wednesday, January 26.
The deal is scheduled to be closed in the first half of 2022 after a comprehensive investment due diligence, obtaining the necessary corporate approvals from its participants and approval from the Federal Antimonopoly Service (FAS) of Russia.
The parties have already signed a document of intent to jointly develop the fashion segment in the Sber ecosystem.
Sber wants to make Stockmann and its online trading service SberMegaMarket strategic partners and integrate them with each other. With this, the company plans to strengthen its position in e-commerce and increase the share of income in the fashion segment from the total turnover of online trading services.
Panchenko said that Stockmann will become a fashion operator on the marketplace and at the same time continue to develop its business.
Lev Khasis, First Deputy Chairman of the Management Board of Sberbank, expressed confidence that the development of the fashion category in the Sberbank e-commerce industry will become one of the key growth drivers.
“Our actions are in line with the global trend towards building qualitatively new omnichannel services in this category, which is important for buyers,” he said.
Solomon Kunin, General Director of the SberMegaMarket marketplace, expressed the hope that the partnership with Stockmann will be the beginning of a “long and mutually beneficial cooperation”, thanks to which the GMV of the fashion segment from the total turnover of the marketplace over the next few years will be about 20%.
STOCKMANN was founded in 1862 in Helsinki. Now its department stores operate in Europe and Russia. More than 600 brands are represented in Stockmann in Russia, the network has 12 offline stores in Moscow, St. Petersburg, Yekaterinburg and Murmansk. In 2018, the company launched an online store. According to Sberbank, the company’s turnover in 2021 amounted to 10 billion rubles. The stockmann.ru website has a monthly audience of 1.5 million visitors.
In March 2021, the details of the failed deal between Sberbank and Ozon became known. Forbes, citing sources, reported that the parties did not agree on a price: the bank was ready to pay $1.4 billion for the company, while the marketplace wanted $2.1 billion. In addition, Sber insisted on rebranding and changing fintech services.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
